Wacoal Holdings (3591) Q1 2027 earnings summary

Executive summary

• FY2027 1Q revenue rose 8.8% YoY to ¥48,905m, driven by overseas growth, the Glamorise acquisition, stronger e-commerce and recovery from the prior-year Bravissimo fire impact.

• Business profit fell 34.3% to ¥1,578m amid higher SG&A and the absence of a prior-year personnel expense reversal.

• Operating profit declined 90.8% as the prior-year property-sale gain did not recur.

• Profit attributable to owners of parent fell 88.7% to ¥1,553m; regional performance varied, with strong U.S./Europe, weak China and mixed Japan.

Financial highlights

• Gross profit increased 9.1% to ¥28,613m; SG&A rose 13.4% to ¥27,000m, outpacing revenue growth.

• Profit before tax fell 87.0% to ¥2.6bn; basic EPS was ¥31.41, down from ¥266.25 YoY.

• Overseas revenue increased ¥4.3bn YoY; domestic revenue decreased ¥0.5bn, while Peach John revenue increased ¥0.1bn.

• Quarter-end total assets were ¥291,904m, equity attributable to owners ¥212,834m and cash and equivalents ¥31,749m, down ¥12,421m from year-end.

Outlook and guidance

• FY2027 forecast: revenue ¥187.6bn (+9.4%), gross profit ¥108.7bn (+10.6%), business profit ¥0.5bn, operating profit ¥1.5bn and net profit attributable to owners ¥1.8bn (-86.3%).

• Planned segment revenue: domestic ¥90.4bn (+2.2%), overseas ¥79.3bn (+19.9%), Peach John ¥11.8bn (+5.9%) and Other ¥6.1bn (+5.2%); forecasts were unchanged.

• Plan assumes exchange rates of ¥155/$, ¥210/£ and ¥22/CNY; annual dividend forecast remains ¥100 per share.